Govt to revoke regulations hindering investment inflow

Govt to revoke regulations hindering investment inflow

Bank Indonesia Governor, Perry Warjiyo (left); Coordinating Minister for Economic Affairs, Darmin Nasution (center); and Trade Minister, Enggartiasto Lukita (right), gave a press conference in Jakarta on Wednesday night. (ANTARA/ Zubi Mahrofi)

"What potential investors have always complained about is the lack of synchrony between the regulations of the central and regional governments," he said
Jakarta (ANTARA) - The Indonesian government is considering revoking a number of regulations hindering the inflow of investments and the relocation of industries from other countries.

"Many companies are relocating their plants, so we must seize the opportunity," Trade Minister, Enggartiasto Lukita, said, following a coordination meeting between the central government, regional administrations and Bank Indonesia in Jakarta on Wednesday night.

"What potential investors have always complained about is the lack of synchrony between the regulations of the central and regional governments," he said

At the meeting, both the central and regional governments committed to easing licensing procedures, he said.

He went on to say the Trade Ministry will always make efforts to open greater access to foreign markets through a number of trade agreements in order to strengthen the performance of the national manufacturing industry.

The Trade Ministry has set a target of accomplishing three trade agreements with other countries at the end of this year to push exports and attract more investments to Indonesia, he said.

"We have signed 14 trade agreements in the past three years. We expect to sign three more trade agreements at the end of this year," he said.

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